Former Merrill Lynch chief investment strategist Richard Bernstein believes that the U.S. equity markets are in the early stages of a bull market that could surpass the greatest bull market of his lifetime, the 1982-1999 market. Speaking at the Fiduciary Gatekeepers Investment Research Managers conference in Boston this morning, Bernstein, who was named top investment strategist by Institutional Investor 10 times, outlined his contrarian scenario in detail...
Vitus: The article itself is not profound, but we will point out that the S&P chart from ~1968 to 1983 looks similar to the chart from 1999 to today, ie, a 15-20 year period of base-building before a long, sustained period of gains - should gains occur this time. Note, also, that economically, the 1980-82 period is nothing whatsoever like today, contrary to what the article says.
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